CEO / CHAIRMAN
Dear Shareholders, August 2020
Hope everyone is well and healthy.
In this Covid pandemic, we witnessed many companies are closed, bankrupted or liquidated.
Hundreds of thousands were retrenched and lost their jobs. It is a sad and unfortunate period of sufferings. As I can see it, health is top priority. As long as you are healthy and well, you can seek for better opportunities, or at least survive well.
Last month we announced the signing of 3 MOUs, namely AERO360, ENP1C Solar Plant and most importantly with Passion VC. Just a recap:
This profitable and dynamic drone technology company is leading its pack in Philippines with about 100 employees and a revenue turnover of US$3 Million. We expect it to grow exponentially should we close the deal.
ENP1C Solar Plant
Projagg will be the channel where the development of this 60 MW Solar Plant will be executed. LHGI will only acquire up to 20% once the Plant is in operational. The Philippines has one of the highest electrical rates in Asia. This plant will be a steady revenue stream for LHGI regardless of any pandemic or economic woes.
PASSION Venture Capital
Passion is a Singapore MAS licensed Fund Management company, where we will create 2 Funds; namely Projagg REDV Fund and Projagg Green Fund. Passion has recently signed a JV with a Malaysia Fintech to apply for a digital bank license. If they are successful, we can expect Projagg's Vaultchain Technology to be useful for all projects executed on Projagg platform.
PROJAGG - the Real Estate Development & Infrastructure Marketplace
Remember Projagg? The Marketplace platform we acquired and transformed since 2019?
We had revamped Projagg to be the "Alibaba" of Real Estate Development. There are numerous Developers who are seeking funding. Apart from the 1200 Family Offices, Fund managers and Institutional Financiers, we will assist them via Projagg REDV and Green Fund.
We had the intention to launch Projagg in Q1 2020, if not for the Covid situation.
Nevertheless, we are expecting situation to be more stable in August so we can go "LIVE".
Already we have close to 20 projects in our pipeline ready to launch, though some will prefer to hold on till 2021. The total Gross Development Cost for just 3 mega projects may exceed US$2 Billion, over the next 10 years. These are, a US$1.2 Billion reclamation project in Manila, Philippines, a US$800 Million Toll Road in Jakarta, Indonesia and a US$100 Million Gold Mining project in Azatek, Armenia. We sincerely hope all these projects will be aptly funded via Projagg platform.
With all these projects moving forward, we are hoping Projagg will start to generate revenue by the end of 2020, and hopefully profitable in 2021.
Finally, we are exploring how LHGI can raise funds as loan extensions to all our potential acquisitions. LHGI will then be able to generate some income for its own operations. Our hope is to be SEC reporting and upgrade to OTC QB next year. LHGI is slowly but steadily taking shape and pushing itself forward to become a Unicorn Breeder.
Meanwhile, I wish everyone well and safe during this period of hardship.